Last week was a big one for anyone who cares about entrepreneurship, innovation, and capital formation. It also brought promising news for investors watching the future of blockchain and crypto assets.
New SEC Chair, New Direction
On April 9, 2025, the U.S. Senate confirmed Paul Atkins as the new Chairman of the Securities and Exchange Commission (SEC) with a 52–44 vote. That’s a significant shift. Atkins, who served as an SEC commissioner from 2002 to 2008, is known for his market-friendly views and strong support for digital assets. His appointment reinforces the Trump administration’s intention to support innovation, especially in crypto and blockchain technologies.
Atkins has long emphasized the need for regulatory clarity in the digital asset space. He’s pointed out how uncertainty around the rules has held back development and kept entrepreneurs on the sidelines. With him leading the SEC, we’re likely to see a more open and innovation-positive regulatory environment.
The timing couldn’t be better. The SEC has been navigating major internal challenges, including staffing issues and the growing complexity of financial technologies. Atkins’ approach—focused on streamlining and clarifying regulation—is a positive step forward.
A Real Turning Point
For anyone still unsure if the SEC is truly shifting gears, Atkins’ confirmation is a clear sign. His leadership is expected to bring greater clarity to how digital assets are regulated and could mark the start of a more balanced, forward-looking regulatory era.
SEC Releases Two Key Statements the Day After
On April 10, just one day after Atkins was confirmed, the SEC issued two important statements. One in particular—“Offerings and Registrations of Securities in the Crypto Asset Markets”—lays out a number of encouraging updates for the crypto industry. Here are the major takeaways:
1. Focus on Clarity, Not Categorization
The SEC made clear that this statement isn’t about deciding whether a crypto asset is or isn’t a security. Instead, it focuses on how existing securities laws apply if a crypto offering is deemed to fall under them. That’s a meaningful distinction—it leaves room for innovation and acknowledges that not every crypto asset should be treated the same.
2. Realistic, Case-by-Case Paths to Compliance
Rather than vague threats or unclear standards, the SEC offered specific guidance for projects that may need to register. This includes:
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Blockchain networks issuing debt or equity
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ICOs structured as investment contracts
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Crypto assets generating revenue (and possibly qualifying as securities)
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Businesses using NFTs in applications like gaming
This kind of tailored, use-case-specific guidance makes it easier for builders to navigate the landscape without having to guess at compliance.
3. Emphasis on Transparency
The SEC is encouraging companies to provide detailed, useful disclosures that help investors understand what they’re buying into. If you’ve ever filed a Form S-1, this will sound familiar. Key disclosure areas include:
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Development milestones and timelines
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Revenue models and token functionality
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Governance and consensus mechanisms
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Security practices like audits and transaction validation
This is about leveling the playing field—transparency gives credible projects a chance to shine.
4. Flexibility for Early-Stage Projects
Emerging crypto companies may now qualify for scaled disclosures—just like traditional startups can. That means more reasonable reporting requirements, fewer costs related to legal and audit services, extended filing timelines, and fewer barriers to getting started. It’s a practical move that supports growth while still protecting investors.
5. Smart Contracts Officially Recognized
In a major first, the SEC will now accept smart contracts that encode legal rights and obligations as part of formal registration filings. This is a big step forward—it recognizes blockchain code as a legitimate form of legal documentation.
Commissioner Peirce Adds Her Perspective
Commissioner Hester M. Peirce followed up with her own statement, titled: Let’s Talk Disclosure. We’ve cited her many times in our posts—and with good reason. She’s been one of the most thoughtful voices in the space.
Her message was clear: this new guidance isn’t a rigid rulebook. It’s an attempt to clarify how disclosures can work in crypto-related securities offerings. Whether a company is issuing equity, launching an investment contract through an ICO, or building a network that involves crypto assets, the Division’s guidance provides practical insight into what kinds of information should be disclosed.
She also reiterated an important point: not all tokens are securities. But even non-securities can be involved in securities offerings—so clarity matters. The guidance highlights examples of disclosures that can help investors, like development timelines, governance structures, and what rights holders actually get (like voting or revenue sharing).
And importantly, both the SEC and Commissioner Peirce stressed their desire to keep communication open with the industry, to avoid overregulation, and to work with—not against—innovators.
Our Perspective
We’ve been working in this space since we filed our first blockchain patent in 2019 (granted in 2022), and we’ve seen how confusing things could get. Past SEC policy often felt out of step with emerging technology—even after accounting for the bad actors who occasionally pop up.
The Securities Acts of 1933 and 1934 were meant to protect investors, but not to block capital formation or let only venture capital firms benefit from early-stage innovation. No doubt, the U.S. has the strongest capital markets in the world—but that strength shouldn’t depend on making it harder for small companies to get started.
Some of the new IPO rules from last year, like raising the minimum size of offerings, also raised concerns. Who really benefits from making it harder for smaller firms to go public? We’ve seen firsthand how a $6 million IPO can lead to an $850 million acquisition. These opportunities should be open to more entrepreneurs—not fewer.
Health Data and the Future of Exchange
We’re especially passionate about the intersection of health data and tokenization. Value isn’t always measured in dollars, gold, or even fiat currency. Think back: paper money originated in China in the 7th century, and the Knights Templar developed early financial instruments in the 1100s. The Dutch famously exchanged goods for the island of Manhattan in 1626.
So why should today’s most valuable data—health data—be restricted to trading in just one currency?
We believe there’s a future where health data becomes a unit of exchange itself, backed by real utility, and not tied to a single national currency. This isn’t just an idea—it’s a mission. And thanks to the SEC’s latest guidance, the path forward just got a little clearer.
About HealthScoreAI ™
Healthcare is at a tipping point, and HealthScoreAI is positioning to revolutionize the industry by giving consumers control over their health data and unlocking its immense value. U.S. healthcare annual spending has exceeded $5 trillion with little improvement in outcomes. Despite advances, technology has failed to reduce costs or improve care. Meanwhile, 3,000 exabytes of consumer health data remain trapped in fragmented USA systems of 500 EHRs, leaving consumers and doctors without a complete picture of care.
HealthScoreAI seeks to provide a unique solution, acting as a data surrogate for consumers and offering an unbiased holistic view of their health. Giving Consumers tools to respond to denial of care by insurers, we aim to bridge gaps in healthcare access and outcomes. By monetizing de-identified data, HealthScoreAI seeks to share revenue with consumers, potentially creating a new $100 billion market value opportunity. With near-universal EHR adoption in the USA, and advances in technology, now is the perfect time to capitalize on the data available, practical use of AI and the empowering of consumers, in particular the 13,000 tech savvy baby boomers turning 65 every single day and entering the Medicare system for the first time. Our team, with deep healthcare and tech expertise, holds U.S. patents and a proven track record of scaling companies and leading them to IPO.
Noel J. Guillama-Alvarez
https://www.linkedin.com/in/nguillama/ nguillama@mypwer.com
+1-561-904-9477, Ext 355
** By the way, I am not debating what the Indigenous people expected, or even the concept of “selling land”. The point was there was value.